January 19, 2017 (Greenwich, CT) – The Greenwich Association of REALTORS® announces the statistics for home sales in The Town of Greenwich, CT for the month of December 2016.
There were 51 single-family residential closings reported during this period according to figures provided by The Greenwich Multiple Listing Service, Inc., the multiple listing service used by REALTORS® in the Greenwich area.
The number of single-family residential closings increased, compared to December 2015 when there were 48 closings in December. The median sale price for a single-family home decreased to $1,600,000 from $1,712,500 the median sales price in December 2015.
The average days on the market (DOM) for residential homes was 225 days; which was an increase from 210 days in December 2015.
“The median price and median sales for 2016 and 2015 were virtually the same. The median price of a single family home remained the same at $1.825 million and the number of closings only decreased by 4.8%; 571 closings in 2016 compared to 600 in 2015. The fall market was not as strong, with many waiting until the election cycle was over before making any major decisions. January 2017 has begun with a renewed surge in listings with close to 30% more single family listings on the market compared to the same period last year. The spring market should be as strong as last year and we see demand, especially in the $3 million and under range to be in high demand,” stated BK Bates, 2017 President of the Greenwich Association of REALTORS.
The Greenwich Association of REALTORS® is the professional board of choice for the real estate industry in Greenwich. Established in 1924, the association provides professional development and services for REALTORS® and represents the concerns and interests of private property and home ownership rights. The association has over 850 members and is headquartered in Greenwich, CT.